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fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a number of procedural maneuvers tonight to pave the way for quick votes over the next few days. they are not actively involved in the negotiations but if these two are to get a deal, vice president and senate minority leader the house could do a quick vote. >> two other things, first, if they don't do a deal, what can the average american, expect as far as tax increases? >> the average american could and not up and down the income sale. bush tax cuts created lower tax brackets for lower income americans, so up and down you would see specific tax increases not just on wealthier americans. >> and this doesn't hav
fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on...
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does it appear that work is done or of course talking about fiscal cliff and done to three, four, five, sometimes two men talking in a room. so are you busy, working or still thinking you shouldn't be there maybe right now? >> we are not doing anything. we have to be here because if there is an agreement then we have the responsibility to vote on it but as far as what we're doing, this is the real exciting part of my day right now talking to you. >> sir, that's remarkable and i know you're joking and grinning but to american people waiting and wondering about their paycheck for the next day, two, week, month and to hear a member of congress to say we're here and doing nothing, that's hard to register. >> i agree with them. this is an indictment of congress that we have come to this state and where the function that most members of congress have is to simply be on hand so that in the event the negotiators reach agreement we can ratify or reject it but the fact to december 31st, new year's day and all of us should be with our families and america have some confidence that congress does h
does it appear that work is done or of course talking about fiscal cliff and done to three, four, five, sometimes two men talking in a room. so are you busy, working or still thinking you shouldn't be there maybe right now? >> we are not doing anything. we have to be here because if there is an agreement then we have the responsibility to vote on it but as far as what we're doing, this is the real exciting part of my day right now talking to you. >> sir, that's remarkable and i know...
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donald, they have no one about, for instance, this fiscal cliff, they have known about it for 18 months. they have done nothing for 18 months. >> they have really known about it for ten years, when you think about it. they have known about it for ten years. but that is the way government is working. >> well, my point is no politician has been tied up in the base men of the capital or white house and said don't do this. they have had plenty of tune. you talk about the big plan. have you seen any appetite for any of these members of congress or the president or anybody else to really have a big plan that actually fixes the problem? >> no, because right now the president doesn't have a big downside but in a month and a half from now he has a huge downside and that comes due with the debt ceiling. and frankly, you know, when you say they have no one about this for a year and a half, they have known about it for ten years because it was always meant to be. this was going to explode and people were going to negotiate something before it explodes. but i think it's highly overrated. it's going
donald, they have no one about, for instance, this fiscal cliff, they have known about it for 18 months. they have done nothing for 18 months. >> they have really known about it for ten years, when you think about it. they have known about it for ten years. but that is the way government is working. >> well, my point is no politician has been tied up in the base men of the capital or white house and said don't do this. they have had plenty of tune. you talk about the big plan. have...
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>> i think there's a chance he will br just right enough to get something done on the fiscal cliff. we saw the president this harch meet with the bipartisan leadership in congress. remember the republicans because of the intransigence we talked about their caucus sought the speaker es plan for a plan b. that weakened the republican negotiating position . and now the president has maximum leverage because the tax cuts are due to expire by the end of the year. mitch mcconnell said he was hopeful and optimistic that they could get a deal that they could pass. the reason that that could happen if mitch mcconnell lets it happen, john boehner may feel no option but to put that on the floor for pass adge whether or not most republicans are for it. that would be the realization of that -- >> wouldn't that violate the principle that would have govern the policy that nothing wowlingd pass unless the yort of the majority support it. >> it would violate the principle. some democrats think that mitch mcconnell is ready to force john boehner's hand. we know the republicans are going to lose the f
>> i think there's a chance he will br just right enough to get something done on the fiscal cliff. we saw the president this harch meet with the bipartisan leadership in congress. remember the republicans because of the intransigence we talked about their caucus sought the speaker es plan for a plan b. that weakened the republican negotiating position . and now the president has maximum leverage because the tax cuts are due to expire by the end of the year. mitch mcconnell said he was...
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gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american paycheck will get considerably smaller. that would be the wrong thing to do. gerri: no kidding. we have been telling you that for weeks. democrats and republicans alike should rename their parties the procrastination party. that is because like a lot of college freshman, they left their work until the last minute. including the 800 billion-dollar fiscal cliff that we have been talking about. a hundred billion dollars it hasn't happened yet. it's notlike the deadline comes as a surprise to anybody at all, the least of all congress. they were the ones who extended the bush ta
gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every...
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will a last-minute fiscal cliff deal get done? and if it does what will it look like. >>> we have a deal. we may still get hit with an automatic tax hike. how much will that cost you? in time for the new year, a new snowstorm headed to the northeast. we'll let you know how bad this will get. and the yore in review, up with of the most unique and appalling takes on the year in review. good morning to you all. welcome to weekends with alex witt. no alex today. taking a much deserved weekend off. i'm t.j. holmes, good to be with you. new this morning, president obama outlining his course of action if we all go off the cliff. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate m
will a last-minute fiscal cliff deal get done? and if it does what will it look like. >>> we have a deal. we may still get hit with an automatic tax hike. how much will that cost you? in time for the new year, a new snowstorm headed to the northeast. we'll let you know how bad this will get. and the yore in review, up with of the most unique and appalling takes on the year in review. good morning to you all. welcome to weekends with alex witt. no alex today. taking a much deserved...
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if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare, which your own debt commission suggested you'd have to do if you were really going to shore up medicare at least. are you prepared to do that in your first year of the second term? >> what i've said is i'm prepared to do everything i can to make sure that medicare and social security are there not just for this generation but for future generations. >> you've got to talk tough to seniors. >> i have, one of the proposals we've made is something called chain cpi. which sounds technical, but basically makes an adjustment in terms of how inflation is cal
if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to...
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try to get it done. hawaii. fiscal cliff hasn't touched them yet. so, i think we go over the cliff and then the bunji cord attached to our ofeet we dangle for a while. it will be the end of the week. >> bret: next up, a look back at the year that was. ♪ auld lang syne. >> bret: it's a big night. do we have the live look at times square people huddled down there? oh, that is live. look at that they are all packing in there. a lot of them have been there all day. getting ready for that big crystal ball to drop. there you see the countdown, the new year's countdown on the screen. 2012. there is the ball. it's been a crazy year. crazy news year as well. we're back with the panel. we decided that we would try the highlights and low lights of 2012 with the panel for this second panel. the last panel of 2012 i should point out. >> knock on wood. be. [ laughter ] >> bret: charles, highlight and low light. >> i just got a news alert. just arrived at the senate chamber. >> bret: someone just laughed in tv land. >> they are like what is that? >> rolling out
try to get it done. hawaii. fiscal cliff hasn't touched them yet. so, i think we go over the cliff and then the bunji cord attached to our ofeet we dangle for a while. it will be the end of the week. >> bret: next up, a look back at the year that was. ♪ auld lang syne. >> bret: it's a big night. do we have the live look at times square people huddled down there? oh, that is live. look at that they are all packing in there. a lot of them have been there all day. getting ready for...
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cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house, which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor, observer, was quoted as saying if we were in a parliamentary system, what happened to speaker boehner would have been viewed as a vote of no confidence. do you think speaker boehner ought to step aside and let somebody else try to get this done? >> speaker boehner will be the speaker next year, without any question. the onus right now is on senator reid and the president to come up with a solution, make it a piece of legislation, pass it through the senate, present it to the house, and let's get back to the bargaining table. the american people deserve for both houses to do something and ask the president to sign it. >> schieffer:
cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house, which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor, observer, was quoted as saying if we were in a parliamentary system, what happened to speaker boehner would have been...
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in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to call it. with this congress, that was obviously a little too much to hope for at this time. maybe we can do it in stages. we're going to solve this problem instead in several steps . gerri: he could have been a little more conciliatory. >> i guess what i would say is, i would agree with him. i wish we did have a grand bargain. even brad he just will the when the democrats said we needed a grand bargain. certainly paul ryan and i don't know if you remember, he voted against it. plenty of blame to go around. add up think it makes sense to go after just the president. i think this is a failure of our lea
in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to...
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cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be at the top of the list. they interviewed people across the u.s., and a newspaper discovered a low credit score is a deal breaker in search of love. so if you don't have your act together, take care of that and maybe you'll find love. >> can you imagine, hi, how are you? what is your credit score? >> 420. no, mine is a lot higher. >> we want to show you this next footage. anyone who has ever had their parking lot stolen is going to love this. this is in russia. we don't know why this is being towed. i've got to get me one of these, because i would just l
cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be...
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. >>> the clock is ticking toward the showdown on the fiscal cliff. one of the big questions is, what will happen next? shawn tully is here, editor at large for "fortune" magazine, he joins us from new york right now. you have followed most of the major economic stories for more than 20 years now. i'm not trying to make you seem old. sometimes i do, when i say how long i've been doing this. is this the first time you've seen something go this close to the wire? >> i think so, don. and what's really troubling about the debate is really missed by a lot of commentators, this is really a spending issue. we understand that even if taxes go up on individuals making over 200,000 and families making over 250, it only plugs about 8% of the deficit problem over the next ten years. we have a $1.3 trillion deficit for 2012. it will be about a trillion for 2013. we're borrowing 35 cents on the dollar. the enormous problem is interest rates are way below normal, so when they spike, which they inevitably will, and the government is borrowing very short term to keep
. >>> the clock is ticking toward the showdown on the fiscal cliff. one of the big questions is, what will happen next? shawn tully is here, editor at large for "fortune" magazine, he joins us from new york right now. you have followed most of the major economic stories for more than 20 years now. i'm not trying to make you seem old. sometimes i do, when i say how long i've been doing this. is this the first time you've seen something go this close to the wire? >> i...
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if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare, which your own debt commission suggested you'd have to do if you were really going to shore up medicare at least. are you prepared to do that in your first year of the second term? >> what i've said is i'm prepared to do everything i can to make sure that medicare and social security are there not just for this generation but for future generations. >> you've got to talk tough to seniors. >> i have, one of the proposals we've made is something called chain cpi. which sounds technical, but basically makes an adjustment in terms of how inflation is cal
if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to...
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. >> they avoid the fiscal cliff so far but it is far from a done deal in the house. what does it mean for struggling economy? >> up first around the world people are ringing in the new year. in shanghai they set it off with fireworks. a whole lot of them. also a laser light show to showcase tradition and technological advances. celebrations taking part in due by. douche /* lit up the sky and the world's tallest building. byi big ben struck 12 in england as well. next to iran where military drills continue for a fourth straight day. iranian officials say their military tests fired a range of weapons yesterday including the new air defense system seen here. a scary scene in brazil rescue crashes right into the water. this is in rio de janeiro. they managed to make it out okay the swimmer was also saved a surfer. >> wow. >> oo in with the new year out with the old in the big apple. look at times square with the clean upfrom last night's new year's eve if he is tiffities is still underway. 2,000 pounds of confetti blew through the air after the ball dropped that means a
. >> they avoid the fiscal cliff so far but it is far from a done deal in the house. what does it mean for struggling economy? >> up first around the world people are ringing in the new year. in shanghai they set it off with fireworks. a whole lot of them. also a laser light show to showcase tradition and technological advances. celebrations taking part in due by. douche /* lit up the sky and the world's tallest building. byi big ben struck 12 in england as well. next to iran where...
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i made money in markets, done it a long time 20. years. we should just go over the fiscal cliff. swan dive over it. this is a spending trajectory and bury the economy if we go. i'm buying. >> andrea: there is not a deal sequestions ration. >> bob: first, everything you pass you retroactively do back to january 1. which they will do. not massive cut in spending right away. they won't allow people making less than $750,000 not have taxes. they won't allow fica to go back up. [over stalk ] >> bob: now you the debt ceiling. >> andrea: i want to get in here. you talk about the debt ceiling. i thought it was raised in february. isn't it suspect that all of a sudden turbo tax timmy puts out a letter saying with i'll hit the debt ceiling? if we go off the cliff, guess what that means? more revenue. credit rating agencies only care about revenue. we are likely to be just fine if we go off the cliff. >> bob: you said in the opening here. of course it's a game being played here. of course it is set up by obama. the republicans are in a big hole. >> greg: the only game more boring is soccer.
i made money in markets, done it a long time 20. years. we should just go over the fiscal cliff. swan dive over it. this is a spending trajectory and bury the economy if we go. i'm buying. >> andrea: there is not a deal sequestions ration. >> bob: first, everything you pass you retroactively do back to january 1. which they will do. not massive cut in spending right away. they won't allow people making less than $750,000 not have taxes. they won't allow fica to go back up. [over...
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>> set the fiscal cliff aside for one moment. you've done extensive research on recovery from recessions. where are we in the current recovery? what in your estimation does 2013 look like from an economic standpoint. >> fairly normal from world war ii financial crisis, housing recovers on cue five or six years later. the good news is that there's stable underlying growth. the bad news is you don't get the zoom you got out of it during the depression. >> we're in year five of a seven year process. >> more than seven years. >> last time you were here you said we were half way through regardless of who wins in 2012. the next four years would not look much better than the past four years. >> we're going to have, i don't know if not very much better than the past four but we're not going to have fantastic growth. unemployment will take many more years to feel normal, so we have many years left in the recovery but hopefully in two or three years we feel like we're moving there and not at the starting point. >> let's talk about the glob
>> set the fiscal cliff aside for one moment. you've done extensive research on recovery from recessions. where are we in the current recovery? what in your estimation does 2013 look like from an economic standpoint. >> fairly normal from world war ii financial crisis, housing recovers on cue five or six years later. the good news is that there's stable underlying growth. the bad news is you don't get the zoom you got out of it during the depression. >> we're in year five of a...
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rich edson on capitol hill as we await the ball drop and the fiscal cliff to hit. rich: we have just gotten a back of the envelope, unofficial congressional budget office.
rich edson on capitol hill as we await the ball drop and the fiscal cliff to hit. rich: we have just gotten a back of the envelope, unofficial congressional budget office.
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if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy, create jobs. >> if this fight comes back. i want to ask you specifically about entitlements, medicare and social security. are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare that your own debt commission suggested you have to do if you are really going to shore up medicare at least? are you prepared to do that in your first year of the second term? >> what i've said is i am prepared to do everything i can to make sure that medicare and social security are there, not just for this generation but for future generations. >> you've got to talk tough to seniors, don't you? >> i already have. david, as you know, one of the proposals we made was something called chained cpi, which sounds technical, but basically is an adjustment in t
if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy, create jobs. >> if this fight comes back. i want to ask you specifically about entitlements, medicare and social security. are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to...
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going over the fiscal cliff. meanwhile, the president talked about it today. >> democrats and republicans in congress have to get this done. but they are not there yet. they are close. but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you are supposed to do, they will use that second. >> we will continue to work on finding smarter ways to cut spending but let's not let that hold up and protect americans from the tax hike to take place in ten hours. ten hours from now. we can do this. we must do this. >> bret: it's not clear whether they can. it's not clear whether that is all of them believe they must. bring in the panel. jonah goldburg. kirsten powers if for daily beast. syndicated columnist charles krauthammer. begin with the president's statement today that happened mid-day. he framed it as ed henry said as campaign style event. middle class families behind him. didn't have a lot of details and has had the
going over the fiscal cliff. meanwhile, the president talked about it today. >> democrats and republicans in congress have to get this done. but they are not there yet. they are close. but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you are supposed to do, they will use that second. >> we will continue to work on finding smarter ways to cut spending but let's not let that hold...
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>> they're looking for a deal to be done that averts the worst effects of the fiscal cliff. always remembering that there will be some form of spending cuts and tax rises in the united states. but nothing like the grinding austerity that would be imposed on the u.s., and by definition and extension, the rest of the world, if the u.s. goes over the cliff. put it in context. this year the eurozone is in recession. next year recessions likely, growth just about possible. in that scenario for the largest trading partner to have a fiscal retrencherant, a slowdown of the magnitude of the cliff, ali, is pretty dramatic and drastic for everybody else watching. >> richard, there's a chance there could be a boomerang effect. the united states may grow, let's say 3% for argument's sake in 2013. that is going to be healthier than europe by a long shot, and we're seeing slowing in a lot of other major economies, including china, india, brazil. is there some sense that, just like the u.s. set off all of this nonsense back in 2008, a u.s. retrenchment, as you call it, a slowdown in growth
>> they're looking for a deal to be done that averts the worst effects of the fiscal cliff. always remembering that there will be some form of spending cuts and tax rises in the united states. but nothing like the grinding austerity that would be imposed on the u.s., and by definition and extension, the rest of the world, if the u.s. goes over the cliff. put it in context. this year the eurozone is in recession. next year recessions likely, growth just about possible. in that scenario for...
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cliff, and most of the conversation has been about taxes and the white house has done an excellent job, by dealing with the house, and all the messaging today and the weekend about how this is about republican intransigence on taxes. we have seen that. there is as much gap 20 president and his party in congress on spending cuts as there is between john boehner and his caucus on taxes. there is great distance in how far that party has to go to come together to do the kind of entitlement cuts that we still need to see at some time, whether this month or this year or next year. there's a long way to go. they have never been as close as people think on this topic. >> o'donnell: that's interesting, you're saying in terms of messaging the white house has done a good job in keeping this-- >> brilliant. right on taxes. on spending, every time the white house suggested a little bit of spending cuts, social security, med character immediately the democratic caucus said no. >> o'donnell: isn't that the thing about the boehner deal the president said this morning, he was willing to go father on sp
cliff, and most of the conversation has been about taxes and the white house has done an excellent job, by dealing with the house, and all the messaging today and the weekend about how this is about republican intransigence on taxes. we have seen that. there is as much gap 20 president and his party in congress on spending cuts as there is between john boehner and his caucus on taxes. there is great distance in how far that party has to go to come together to do the kind of entitlement cuts...
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on the fiscal cliff. negotiations continuing behind closed doors to avoid some of the the most painful tax hikes and spending cuts in our nation's history. at least one republican congressman believes the president really wants the nation to go over the cliff, he so tax rates can rise. joining me now for his take on what's going on, live from the hill right now, house budget committee member, republican south carolina congressman mick mullvaney. thank you for being with us. >> thanks for having me. >> harris: this would be quite an acting job if he really in the end wants us to go off the cliff. >> politicians are good actors. and not only the last couple months, but years, his omb, budget, the money necessary to run the programs he wanted and nancy pelosi tells me there are members in her caucus wants taxes to go up and howard dean not shy saying that taxes should go up on everyone for months. there's a major part of the democrats who want the rates to go up and are public about it. the question, does th
on the fiscal cliff. negotiations continuing behind closed doors to avoid some of the the most painful tax hikes and spending cuts in our nation's history. at least one republican congressman believes the president really wants the nation to go over the cliff, he so tax rates can rise. joining me now for his take on what's going on, live from the hill right now, house budget committee member, republican south carolina congressman mick mullvaney. thank you for being with us. >> thanks for...
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Dec 30, 2012
12/12
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. >>> the deadline to make a deal and avoid the fiscal cliff less than 48 hours away now. the senate and the house convening this afternoon for a rare sunday session with the hopes of reaching a vote possibly tonight. but can they really get a deal done? yesterday i spoke with sheila, the former chairman of the fdic and she's been through some tough negotiatiions before. this is what she had to say about the chances of a deal and what might be included. >> this should have been resolved long ago and i do think, actually, they are going to get a deal, but i think more along the lines down the road. at least at this point that we'll get meaningful deficit reduction, certainly not meaningful tax reform. i do think, though, perhaps a permanent extension of the lower tax rates for those making at least under $500,000. the payroll tax cut on the other hand will go away, i think, is highly unlikely and that is going to impact a lot of workers. i think they will make some decisions this weekend and a good chance that it will pass and become law. that is the good news. the bad news
. >>> the deadline to make a deal and avoid the fiscal cliff less than 48 hours away now. the senate and the house convening this afternoon for a rare sunday session with the hopes of reaching a vote possibly tonight. but can they really get a deal done? yesterday i spoke with sheila, the former chairman of the fdic and she's been through some tough negotiatiions before. this is what she had to say about the chances of a deal and what might be included. >> this should have been...
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Dec 28, 2012
12/12
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they realize that if there is no deal that gets done, we go over the fiscal cliff or the obama cliff and everything that gets kicked into gear, higher tax rates, some of the spending cuts, sequestration, probably good for the economy, which i believe is, but also he can come back in after the first of the year, sometime in january or february and say, let's pass some tax cuts for people making under $250,000 a year, like i've wanted to do all along and he gets to own tax cuts. it's very, very politically senator to do this on his part. on right, they really, really needed to be one voice and they just couldn't get to that. >> kelly: he divided the republicans as charles krauthammer alluded to, saying that's what the president wanted to do, to divide the republicans. senator john barrasso has something to say about the president, saying he may have wanted to do this all along, go off the fiscal cliff. >> i think that he sees a lot of cuts to the military, which the democrats have been after for a long time. and then he gets to do what he loves to do, which is blame republicans. my con
they realize that if there is no deal that gets done, we go over the fiscal cliff or the obama cliff and everything that gets kicked into gear, higher tax rates, some of the spending cuts, sequestration, probably good for the economy, which i believe is, but also he can come back in after the first of the year, sometime in january or february and say, let's pass some tax cuts for people making under $250,000 a year, like i've wanted to do all along and he gets to own tax cuts. it's very, very...
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Dec 24, 2012
12/12
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we do have this practical problem ten days from now of the fiscal cliff. i said republicans would be well advised to accept the fact that president obama won the election and minimize the damage that will be done by the tax increase that is coming. >> chris: you would go for the stripped down obama plan? >> i would go for what the speaker tried to do late last week and try to get the number up from $250,000. yes, there is going to be a tax increase on the wealthy. i would try to protect investments as much as possible. do the amt patch. have a reasonable deal on estate taxes. i'm a squish on this. got to make the best of a bad situation. i think what will happen incidentally is republicans will be faced on monday, on december 31 with having to vote on a much worse proposal than the one they didn't give speaker boehner the majority for. >> chris: the plan b. >> harry reid will pass through the senate on thursday or friday a tax hike on everyone over $250,000 and republicans will have the joyc choice on m, letting it come to a vote. i think the speaker proba
we do have this practical problem ten days from now of the fiscal cliff. i said republicans would be well advised to accept the fact that president obama won the election and minimize the damage that will be done by the tax increase that is coming. >> chris: you would go for the stripped down obama plan? >> i would go for what the speaker tried to do late last week and try to get the number up from $250,000. yes, there is going to be a tax increase on the wealthy. i would try to...
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Dec 27, 2012
12/12
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>> well, i certainly think that the fiscal cliff, that language is a manufactured media narrative. that americans believe on january 1 we are going to be standing in line for bread. that's not going to happen this is all because congress kicked the can down the road. after the debt ceiling, which was a real crisis. and so by not completing resolving that issue in a substantive manner. we now are here at this fiscal slope as i like to call it, not cliff. >> laura: presumably, no matter what you say about what happened a year and a half ago, the president was part of that equation, right? he is the president of the united states. >> he is. but there are three branches of government. >> laura: accountability for that as well: that's for sure and the democrats didn't get around to actually passing a budget so we need to move on to that that guy, we are going to have the republicans have only so much leverage. in effect they don't have a lot of power here, do they? not really i think we learned that speaker boehner own party we can go back as you said to the debt ceiling debate. the onl
>> well, i certainly think that the fiscal cliff, that language is a manufactured media narrative. that americans believe on january 1 we are going to be standing in line for bread. that's not going to happen this is all because congress kicked the can down the road. after the debt ceiling, which was a real crisis. and so by not completing resolving that issue in a substantive manner. we now are here at this fiscal slope as i like to call it, not cliff. >> laura: presumably, no...
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Dec 29, 2012
12/12
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. >> as the country moves closer to going over the fiscal cliff, the partisan rhetoric reaches new lows. can washington hammer out a deal before it's too late. the american people should be outraged at this because it is disgraceful. it is purposely misleading. >> shocking developments at the state department. the four officials supposedly out of their jobs after the benghazi terror attack reportedly still on the government payroll. how can that be? [chanting] protect the constitution. >> the liberal "new york times" says last month's election significantly weakened the tea party. is that true? we will have a debate. chanting] >> u.s.a. >> caution, you where to enter the no spin zone. the factor begins right now. >> i'm greg gutfeld in for bill o'reilly. thanks for watching us. our top story tonight, the last ditch effort to avert the fiscal cliff. president obama met with congressional leaders for several hours at the white house today to try to hammer out a deal before taxes go up on more than 160 million americans. after the meeting, the president presented a new plan to avoid the cl
. >> as the country moves closer to going over the fiscal cliff, the partisan rhetoric reaches new lows. can washington hammer out a deal before it's too late. the american people should be outraged at this because it is disgraceful. it is purposely misleading. >> shocking developments at the state department. the four officials supposedly out of their jobs after the benghazi terror attack reportedly still on the government payroll. how can that be? [chanting] protect the...
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Dec 31, 2012
12/12
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i think we will briefly go over the fiscal cliff. the president worked on the issue months and months. the entire "crisis" is an issue of congress' own making . he was taping the meet the press on saturday. house republicans were cozy and doing nothing on the fiscal cliff. john bone bone took himself out of the negotiations and abdicated responsibility and said he would dole with whatever the senate and president had come to. i happening there is a lot of good proprosals on the table and something will get done, too. >> dave: it appears that senate republicans came a long way in sharing their desire for no taxes raised on the wealthy. $550,000 thres hold for couples is a significant compromise. but can they get anything through the house in terms of getting republican votes today? >> i don't think that will get through the house . the house was elected to protect the united states of additional obama care spipe types of spending . from the perspective it is it a char aid. he wants to raise tax for people with over $200,000 . patti mu
i think we will briefly go over the fiscal cliff. the president worked on the issue months and months. the entire "crisis" is an issue of congress' own making . he was taping the meet the press on saturday. house republicans were cozy and doing nothing on the fiscal cliff. john bone bone took himself out of the negotiations and abdicated responsibility and said he would dole with whatever the senate and president had come to. i happening there is a lot of good proprosals on the table...
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Dec 26, 2012
12/12
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>> the fiscal cliff puts it in jeopardy. many are afraid to invest in their business and hire new workers. make plans. >> no longer vetting a deal is done by new year's eve f. one comes by early january definitely a possibility. the economic impact should be minim minimal. if one comes later than that the damage to the economy is already done and you will see more talk of recession and analysts started cutting the earnings growth in the fourth quarter. >> one thing they don't like is uncertainty. apple released a new product and there will be another new product. >> now that you got them under the christmas tree. a man who has been right predicting apple products before a 5th generation ipad will look like the mini but some what thinner narrower and shorter than a regular ipad so not as small. apple is working on another generation of the ipad mini. it could be two new products. >> we could have just wasted our money at christmastime. >> sales were down from what was expected. >> yeah, the holiday shopping season a disappoin
>> the fiscal cliff puts it in jeopardy. many are afraid to invest in their business and hire new workers. make plans. >> no longer vetting a deal is done by new year's eve f. one comes by early january definitely a possibility. the economic impact should be minim minimal. if one comes later than that the damage to the economy is already done and you will see more talk of recession and analysts started cutting the earnings growth in the fourth quarter. >> one thing they don't...
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Dec 31, 2012
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if this fiscal cliff thing is done, i'm going to sleep. however, if it isn't dealt with, your taxes are going to go up. your grocery bill might go up too. the deal that could affect milk prices, next. and a new year's message from washington from one of our viewers. >> my new year's message to washington is this. there are not wealthy enough and corporations to keep you in office. in this light, grow up, govern, and most importantly. support middle class policies. am i on this one? no, no, no, no, no. i am on this one. [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. belt-friendly. let's fight fat with alli. learn more, lose more at letsfightfat.com. learn more, lose more are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explai
if this fiscal cliff thing is done, i'm going to sleep. however, if it isn't dealt with, your taxes are going to go up. your grocery bill might go up too. the deal that could affect milk prices, next. and a new year's message from washington from one of our viewers. >> my new year's message to washington is this. there are not wealthy enough and corporations to keep you in office. in this light, grow up, govern, and most importantly. support middle class policies. am i on this one? no,...
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Jan 1, 2013
01/13
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after weeks of back-and-forth bickering we may have a deal on the "fiscal cliff." it is not literally the 11th hour but it's close. according to a democratic aide who says the white house has reached an agreement with congressional republicans, is essentially a done deal but let's get the latest. cbs reporter randall pinkston joins us live from capitol hill with the details. randall. >> reporter: brian, just minutes ago we saw vice president joe biden's motorcade arrive on the grounds of the nation's capital. he is in there right now briefing members of the democratic caucus about the details and here are some of those details. the sequester which is supposed to take place tonight the automatic spending cuts have been put off for two months to give democrats and republicans, the white house and congressional leaders time to work out a longer deal. but right now, they have one that will at least avoid the nation and the economy going off that so-called "fiscal cliff." the senate is close to a deal as the clock ticks toward midnight and the nation teeters on the edge
after weeks of back-and-forth bickering we may have a deal on the "fiscal cliff." it is not literally the 11th hour but it's close. according to a democratic aide who says the white house has reached an agreement with congressional republicans, is essentially a done deal but let's get the latest. cbs reporter randall pinkston joins us live from capitol hill with the details. randall. >> reporter: brian, just minutes ago we saw vice president joe biden's motorcade arrive on the...